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Millennial Homeownership Rate Increases | Winfield Estates
Millennial homeownership rate increases - Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%.
Millennials proved to have the highest increase of any age group. This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American, 6 Trends Poised to Reshape Homeownership Demand, revealed reasons why millennial homeownership numbers will continue to increase.
Millennial Homeownership Rate IncreasesWhy does that matter? First American explains:
“Our model shows that, all other factors being equal, the likelihood of homeownership increases by 3 percent for those that earn a bachelor’s degree over those with a high school degree. The likelihood of homeownership jumps another 3 percent for those that earn a graduate degree.”The more educated, the better the likelihood for homeownership. And, as we mentioned: Millennials are the most educated generation in the U.S.
Homes & marriage go together
Marriage is a key determinate in homeownership. According to an analysis by First American, ... more

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